Illinois Municipal Retirement Fund Raises Stake in Amcor plc (NYSE:AMCR)

Illinois Municipal Retirement Fund raised its stake in Amcor plc (NYSE:AMCRGet Rating) by 71.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,335 shares of the company’s stock after buying an additional 28,901 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Amcor were worth $744,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMCR. Concord Wealth Partners grew its holdings in shares of Amcor by 23.4% during the 2nd quarter. Concord Wealth Partners now owns 4,656 shares of the company’s stock worth $58,000 after purchasing an additional 882 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Amcor by 46.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,536 shares of the company’s stock worth $38,000 after purchasing an additional 1,114 shares during the period. State of Michigan Retirement System grew its holdings in shares of Amcor by 0.3% during the 3rd quarter. State of Michigan Retirement System now owns 406,676 shares of the company’s stock worth $4,364,000 after purchasing an additional 1,300 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Amcor by 81.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company’s stock worth $37,000 after purchasing an additional 1,378 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Amcor by 6.8% during the 2nd quarter. Captrust Financial Advisors now owns 22,390 shares of the company’s stock worth $278,000 after purchasing an additional 1,420 shares during the period. 46.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amcor

In other Amcor news, Director Nicholas T. Long sold 5,372 shares of the stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $12.40, for a total value of $66,612.80. Following the sale, the director now owns 29,769 shares of the company’s stock, valued at approximately $369,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Nicholas T. Long sold 5,372 shares of the stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $12.40, for a total value of $66,612.80. Following the transaction, the director now owns 29,769 shares in the company, valued at approximately $369,135.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ian Wilson sold 100,000 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $12.38, for a total value of $1,238,000.00. Following the completion of the transaction, the executive vice president now owns 131,610 shares in the company, valued at approximately $1,629,331.80. The disclosure for this sale can be found here. Insiders have sold 1,080,955 shares of company stock valued at $13,145,237 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMCR shares. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating in a report on Thursday, October 13th. TheStreet raised Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.15.

Amcor Price Performance

AMCR opened at $12.00 on Tuesday. The stock’s 50-day moving average price is $12.09 and its 200 day moving average price is $11.96. Amcor plc has a 12-month low of $10.42 and a 12-month high of $13.60. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 1.73. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 3.83 and a beta of 0.79.

Amcor (NYSE:AMCRGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.58 billion. Amcor had a net margin of 5.63% and a return on equity of 28.47%. As a group, sell-side analysts expect that Amcor plc will post 0.78 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 13th. Shareholders of record on Wednesday, November 23rd were given a $0.1225 dividend. The ex-dividend date was Tuesday, November 22nd. This represents a $0.49 dividend on an annualized basis and a yield of 4.08%. This is a positive change from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio (DPR) is currently 87.50%.

Amcor Profile

(Get Rating)

Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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